Tuesday, November 8, 2011

Michael Bloomberg as a Big Time Tax Raising Interventionist

New York Mayor Michael Bloomberg called for eliminating Bush-era tax cuts and farm and energy subsidies, and an end to what he called “tax loopholes” on carried interest enjoyed by hedge fund partners, during a speech delivered in Washington DC at a forum sponsored by the Center for American Progress.

He urged Obama to veto any further extensions, and “throw politics aside and lead -- not follow -- the conventional wisdom.”

He made no specific suggestions during his speech as to where the government might be cut. Perhaps he sees none.

Bloomberg is likely considering a run as a third party candidate. Consider him a very dangerous third rail.


  1. The only correct thing he said was to eliminate farm and energy subsidies. Other than that he is as scumy as ever.

  2. From an Austrian/Free-Market perspective, income is income, & no particular activity, such as capital formation/gains, should be favored by tax policy.

    And there is no reason what-so-ever, for "carried interest" to be treated as capital gains.

  3. Bloomberg would draw support from Obama in the general, so how is this a bad thing (if/when Ron Paul wins the GOP nod)?

    I'd be more afraid of Trump.